Eve Air Mobility, one of the companies developing an air taxi, received a $50 million investment from Citibank.
That’s on top of the nearly $96 million it has already collected in investments for an electric vertical takeoff and landing vehicle company. Now kick in $88 million in a bank loan for Eve Air and you’re talking more than $230 million. The loan was from a Brazilian bank in part for a manufacturing facility in Brazil.
“Eve continues to attract new investors, a sign of the continued confidence in our strategic plan, strong customer interest in our eVTOL aircraft, services, operations solutions and our Vector urban air traffic management software solution,” said Eduardo Couto, chief financial officer at Eve Air Mobility.
“The bank loan, along with existing cash and credit lines, ensures that Eve remains well capitalized with a comfortable balance sheet and with one of the highest cash runways in the advanced air mobility (AAM) industry. We are continuing to advance in the development and manufacturing of our eVTOL.”
Several companies worldwide are trying to develop a flying taxi. But Eve Air recently introduced a full-scale eVTOL prototype at the Farnborough Airshow and completed the selection of the primary suppliers for its EAV prior to entering its testing phase.
Eve Air has also taken the initiative to prepare and train airports and airport staff for air taxis.
It is hoping to enter service in 2026. It already has an offer for 50 hair taxis from the largest helicopter company in Japan. Eve Air is also courting customers in India, South Korea and Australia. Implementation in the United States is subject to Federal Aviation Administration approval.
So far, the government agency appears to be amenable to an air taxi.
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